Current Affairs Quiz – 22 May 2020
Current Affairs Quiz 22 May 2020: Based on the Current Affairs and Important News of 22 May 2020 we have framed important current affairs questions for banking and competitive exams. These current affairs quiz questions will be helpful for upcoming competitive exams. Give our online current affairs test every day to be prepared for all Current Affairs Quiz 22 May 2020. Attempt our daily current affairs quiz on our mobile app too.
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Question 1 of 15
1. Question
The Union Cabinet has approved the Pradhan Mantri Matsya Sampada Yojana to improve fisheries sector in the country. How much amount has been allocated to the scheme?
Correct
Pradhan Mantri Matsya Sampada Yojana (PMMSY) : Scheme to bring Blue Revolution through sustainable and responsible development of fisheries sector in India. Total investment – Rs. 20,050 crore, to be implemented during a period of 5 years from FY 2020-21 to FY 2024-25.
Incorrect
Pradhan Mantri Matsya Sampada Yojana (PMMSY) : Scheme to bring Blue Revolution through sustainable and responsible development of fisheries sector in India. Total investment – Rs. 20,050 crore, to be implemented during a period of 5 years from FY 2020-21 to FY 2024-25.
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Question 2 of 15
2. Question
Union Cabinet has approved the Scheme for Formalisation of Micro food processing Enterprises (FME) for the unorganised sector in the country. What is the total outlay of the scheme?
Correct
Scheme for Formalisation of Micro food processing Enterprises (FME): It is a Centrally Sponsored Scheme for the Unorganized Sector on All India basis with an outlay of Rs.10,000 crore, to be shared by GOI and the States in ratio of 60:40.
Incorrect
Scheme for Formalisation of Micro food processing Enterprises (FME): It is a Centrally Sponsored Scheme for the Unorganized Sector on All India basis with an outlay of Rs.10,000 crore, to be shared by GOI and the States in ratio of 60:40.
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Question 3 of 15
3. Question
Government has notified modification in existing Partial Credit Guarantee Scheme (PCGS), which will now provide Sovereign portfolio guarantee of up to _____ percent of first loss to Public Sector Banks (PSBs) for purchase of Bonds or Commercial Papers (CPs) by NBFCs/MFCs/MFIs.
Correct
Modification in existing Partial Credit Guarantee Scheme (PCGS): approved Sovereign portfolio guarantee of up to 20% of first loss to Public Sector Banks (PSBs) for purchase of Bonds or Commercial Papers (CPs) with a rating of AA and below (including unrated paper with original/ initial maturity of up to one year) issued by NBFCs/ MFCs/Micro Finance Institutions (MFIs).
Incorrect
Modification in existing Partial Credit Guarantee Scheme (PCGS): approved Sovereign portfolio guarantee of up to 20% of first loss to Public Sector Banks (PSBs) for purchase of Bonds or Commercial Papers (CPs) with a rating of AA and below (including unrated paper with original/ initial maturity of up to one year) issued by NBFCs/ MFCs/Micro Finance Institutions (MFIs).
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Question 4 of 15
4. Question
The Pradhan Mantri Vaya Vandana Yojana has been extended by the Union Cabinet. What is the new timeline?
Correct
- The Union Cabinet has approved the extension of ‘Pradhan Mantri Vaya Vandana Yojana’ (PMVVY), a pension scheme for senior citizens above 60, for a further period of three years up to 31 March 2023.
- Earlier, the last date of PMMVY was March 31, 2020.
Incorrect
- The Union Cabinet has approved the extension of ‘Pradhan Mantri Vaya Vandana Yojana’ (PMVVY), a pension scheme for senior citizens above 60, for a further period of three years up to 31 March 2023.
- Earlier, the last date of PMMVY was March 31, 2020.
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Question 5 of 15
5. Question
What will be the rate of return offered on the Pradhan Mantri Vaya Vandana Yojana’ (PMVVY) for the fiscal 2020-21?
Correct
- The government has fixed the annual rate of return on the scheme at 7.4 percent for financial year 2020-21, and thereafter to be reset every year.
- This interest rate is lower as compared to 8 percent being given for the financial year ending 31 March 2020.
Incorrect
- The government has fixed the annual rate of return on the scheme at 7.4 percent for financial year 2020-21, and thereafter to be reset every year.
- This interest rate is lower as compared to 8 percent being given for the financial year ending 31 March 2020.
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Question 6 of 15
6. Question
Which state has launched the Rajiv Gandhi Kisan Nyay Yojana for the welfare of the farmers?
Correct
- The Chhattisgarh government has launched the Rajiv Gandhi Kisan Nyay Yojana, a scheme to ensure “minimum income availability” to farmers of the state through direct bank transfer.
- The scheme was jointly launched by Congress Chief Sonia Gandhi and Chhattisgarh Chief Minister Bhupesh Baghel on 21 May 2020, to mark the death anniversary of former prime minister Rajiv Gandhi.
Incorrect
- The Chhattisgarh government has launched the Rajiv Gandhi Kisan Nyay Yojana, a scheme to ensure “minimum income availability” to farmers of the state through direct bank transfer.
- The scheme was jointly launched by Congress Chief Sonia Gandhi and Chhattisgarh Chief Minister Bhupesh Baghel on 21 May 2020, to mark the death anniversary of former prime minister Rajiv Gandhi.
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Question 7 of 15
7. Question
A new ‘Didi Vehicle Service’ initiative has been launched by the women of Rural Livelihood Mission in the Jhabua district, for the pregnant rural women. In which state is the Jhabua district based?
Correct
- In the tribal-dominated Jhabua district of Madhya Pradesh, the women of Rural Livelihood Mission have started an initiative called ‘Didi Vehicle Service’ for pregnant rural women for the safe delivery, at a time of COVID-19 outbreak.
- The service has been launched for 29 villages of 10 Gram Panchayats of Petlavad development block of Jhabua.
Incorrect
- In the tribal-dominated Jhabua district of Madhya Pradesh, the women of Rural Livelihood Mission have started an initiative called ‘Didi Vehicle Service’ for pregnant rural women for the safe delivery, at a time of COVID-19 outbreak.
- The service has been launched for 29 villages of 10 Gram Panchayats of Petlavad development block of Jhabua.
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Question 8 of 15
8. Question
What is the expected GDP Growth rate of India for the fiscal year 2020-21 as per rating agency ICRA?
Correct
The Ratings agency ICRA has predicted India’s GDP growth for FY 2020-21 at -5.0%. Earlier it has predicted the same at around -1% to -2 %.
Incorrect
The Ratings agency ICRA has predicted India’s GDP growth for FY 2020-21 at -5.0%. Earlier it has predicted the same at around -1% to -2 %.
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Question 9 of 15
9. Question
Flipkart has tied up with which insurance company to offer digital motor insurance policy to Flipkart customers?
Correct
- India’s homegrown e-commerce marketplace Flipkart and Bajaj Allianz General Insurance Company, India’s leading private general insurer have partnered to offer a digital motor insurance policy to Flipkart customers.
- The interested consumers can avail the motor-insurance policy on the Flipkart app.
Incorrect
- India’s homegrown e-commerce marketplace Flipkart and Bajaj Allianz General Insurance Company, India’s leading private general insurer have partnered to offer a digital motor insurance policy to Flipkart customers.
- The interested consumers can avail the motor-insurance policy on the Flipkart app.
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Question 10 of 15
10. Question
Who has been named as the new Chief Economist of the World Bank Group?
Correct
- American economist and Harvard University Professor, Carmen M. Reinhart, has been named as the new Vice President and Chief Economist of the World Bank on 20 May 2020.
- Her appointment will be effective from June 15, 2020.
Incorrect
- American economist and Harvard University Professor, Carmen M. Reinhart, has been named as the new Vice President and Chief Economist of the World Bank on 20 May 2020.
- Her appointment will be effective from June 15, 2020.
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Question 11 of 15
11. Question
Who among these has recently taken charge as the new President of the Indian Steel Association (ISA) ?
Correct
Dilip Oommen, has been sworn in as the new President of the Indian Steel Association (ISA) on 19 May 2020 for a period of two years till May 2022.
Incorrect
Dilip Oommen, has been sworn in as the new President of the Indian Steel Association (ISA) on 19 May 2020 for a period of two years till May 2022.
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Question 12 of 15
12. Question
When is the International Tea Day observed?
Correct
The International Tea Day is observed annually on May 21 by United Nations Food and Agriculture Organization (FAO) to raise awareness of the deep cultural and economic significance of tea around the world and promote its importance in fighting hunger and poverty.
Incorrect
The International Tea Day is observed annually on May 21 by United Nations Food and Agriculture Organization (FAO) to raise awareness of the deep cultural and economic significance of tea around the world and promote its importance in fighting hunger and poverty.
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Question 13 of 15
13. Question
The International Day for Biological Diversity is held annually on___________
Correct
- The International Day for Biological Diversity (also known as World Biodiversity Day) is a United Nations–sanctioned international day held on May 22 every year to increase understanding and awareness of biodiversity issues.
- The theme of 2020 World Biodiversity Day is “Our solutions are in nature”.
Incorrect
- The International Day for Biological Diversity (also known as World Biodiversity Day) is a United Nations–sanctioned international day held on May 22 every year to increase understanding and awareness of biodiversity issues.
- The theme of 2020 World Biodiversity Day is “Our solutions are in nature”.
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Question 14 of 15
14. Question
Which institution is responsible to offer the service of PMVVY?
Correct
The scheme can be purchased offline as well as online, through Life Insurance Corp. of India (LIC), which is the sole institution allowed by the government to offer the plan.
Incorrect
The scheme can be purchased offline as well as online, through Life Insurance Corp. of India (LIC), which is the sole institution allowed by the government to offer the plan.
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Question 15 of 15
15. Question
What is the maximum amount that can be invest in the PMVVY scheme?
Correct
- The maximum amount that can be invested under the scheme is Rs 15 lakh.
- The tenure of the policy is set at 10 years.
Incorrect
- The maximum amount that can be invested under the scheme is Rs 15 lakh.
- The tenure of the policy is set at 10 years.